Iran and Russia could turn to cryptocurrency as a solution to evade Western financial sanctions and reduce their dependence on the US dollar. Iran has been struck by a monetary crisis in recent months after its fiat currency, the rial, plunged to historic lows against the US dollar leading up to US president Trump formally withdrawing from the Obama-era nuclear deal with Iran. Russia has also seen international sanctions imposed by the United States and the European Union and a number of other countries in recent years following Russia’s military intervention in Ukraine.
In an effort to circumvent US-dollar-based commerce and escape their dependence on the global interbank system operated by SWIFT, Tehran is suggesting cryptocurrency as a solution in high-level discussions with Moscow, according to a report by Russian publication RBC citing major news agency Interfax. Iran’s Parliamentary Commission of Economic Affairs has already “obliged the Central Bank of Iran to start developing proposals for the use of cryptocurrency”, revealed the authority’s chief Mohammad Reza Pourebrahimi. “Over the past year or two, the use of cryptocurrency has become an important issue,” the official reportedly said. “This is one of the good ways to bypass the use of the dollar, as well as the replacement of the SWIFT system,” he added. The official made the revelation following a Moscow meeting with Dmitry Mezentsev, head of Russia’s Federation Council Committee on Economic Policy.
Notably, Pourebrahimi confirmed that he had already held discussions with the Russian Parliament’s Committee on Economic Policy with the report suggesting that Iran ‘has established cooperation with Russia’ in their cryptocurrency pact.
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*This is not financial advice, just my thought*
*Credit: CCN
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#BTC #ETH #BCH #Ethereum #Bitcoin #Cryptolife #cryptocrazies #Ledger #TomLee #DigitalCoin #Digitialcurrency #tron #XRB #XRP #Google #Cryptocurrency #Crypto #like #Ripple #Insta #gram #google #Googleads #CryptoAds #Follow
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#Neo #Stellar #Raiblocks #Cardano #Cryptolife

A group of academics, philanthropists and investors are working together to literally launch an independent floating island by 2020. This project was initially run as a pilot in partnership with the French Polynesian government, and will contain 300 homes and use cryptocurrency to power its economy. The currency has been named ‘Vayron’ (VAR), with interested parties able to participate in the presale through a smart contract mechanism on the Ethereum blockchain. Currently 1 ETH is worth 14,750 VAR, with a Hard cap of 22,000 ETH. Circulating supply of the new VAR currency is unknown. Whilst the speculative details and proposition of this new currency remain to be seen, if at all, the conceptual use case and prospect that a self-governing, self-sufficient, cryptocurrency ‘powered’ ecosystem holds is potentially remarkable. The company behind this venture – Blue Frontiers Ltd – was founded by the executive team and ambassadors of the Seasteading Institute, with billionaire Peter Theil a notable founder. Blue Frontiers claim that these new floating islands, dubbed ‘Seasteads’, will offer a decentralised form of governance, bringing fairer decision-making in the place of overly centralised institutions. They will also provide a tangible solution to the threat of rising sea level and overcrowded cities. Furthermore, ‘SeaZones’ will become Special Economic Zones, creating legal and regulatory frameworks within territorial waters of host nations. The fact that Blue Frontiers have already secured a pilot project with the French Polynesian government goes to show that there is genuine interest in such a project. Whilst this particular development will not directly affect speculative cryptocurrency investments, it surely demonstrates the use-cases and potentially transformational change that DLT and cryptocurrencies can bring.
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*This is not financial advice, just my thought*
*Credit: CryptoCoinSpy
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#BTC #ETH #BCH #Ethereum #Bitcoin #Cryptolife #cryptocrazies #Ledger #TomLee #DigitalCoin #Digitialcurrency #tron #XRB #XRP #Google #Cryptocurrency #Crypto #like #Ripple #Insta #gram #google #Googleads #CryptoAds #Follow
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#Neo #Stellar #Raiblocks #Cardano

A group of academics, philanthropists and investors are working together to literally launch an independent floating island by 2020. This project was initially run as a pilot in partnership with the French Polynesian government, and will contain 300 homes and use cryptocurrency to power its economy. The currency has been named ‘Vayron’ (VAR), with interested parties able to participate in the presale through a smart contract mechanism on the Ethereum blockchain. Currently 1 ETH is worth 14,750 VAR, with a Hard cap of 22,000 ETH. Circulating supply of the new VAR currency is unknown. Whilst the speculative details and proposition of this new currency remain to be seen, if at all, the conceptual use case and prospect that a self-governing, self-sufficient, cryptocurrency ‘powered’ ecosystem holds is potentially remarkable. The company behind this venture – Blue Frontiers Ltd – was founded by the executive team and ambassadors of the Seasteading Institute, with billionaire Peter Theil a notable founder. Blue Frontiers claim that these new floating islands, dubbed ‘Seasteads’, will offer a decentralised form of governance, bringing fairer decision-making in the place of overly centralised institutions. They will also provide a tangible solution to the threat of rising sea level and overcrowded cities. Furthermore, ‘SeaZones’ will become Special Economic Zones, creating legal and regulatory frameworks within territorial waters of host nations. The fact that Blue Frontiers have already secured a pilot project with the French Polynesian government goes to show that there is genuine interest in such a project. Whilst this particular development will not directly affect speculative cryptocurrency investments, it surely demonstrates the use-cases and potentially transformational change that DLT and cryptocurrencies can bring.
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*This is not financial advice, just my thought*
*Credit: CryptoCoinSpy
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#BTC #ETH #BCH #Ethereum #Bitcoin #Cryptolife #cryptocrazies #Ledger #TomLee #DigitalCoin #Digitialcurrency #tron #XRB #XRP #Google #Cryptocurrency #Crypto #like #Ripple #Insta #gram #google #Googleads #CryptoAds #Follow
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#Neo #Stellar #Raiblocks #Cardano

Tether is right back at it, generating $250 million dollars worth of Tether with a few clicks, as of 11:20 PST. ————————————————————————————😶 The large green candles seen after 11:30, show the minutes right after the granting of $250 million dollars worth of Tether tokens. Bitcoin quickly ran up over $150 dollars in just under the 20 minutes after the ‘printing’ of the Tether, with most altcoins following. Ethereum also went up by over $20 dollars in the same time span. ————————————————————————————-🤔Coincidence? Many think not. ————————————————————————————-🤥Some suggest that Tether has been using their token as a way to manipulate the price of cryptocurrencies.
It is crazy to comprehend that there are over $2.75 billion real US dollars backing this token. ————————————————————————————-😰But until Tether shows that they actually have that amount of money sitting in their bank accounts, community distrust in this specific stablecoin will continue. 🌃🌌
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*This is not financial advice, just my thought*
*Credit: http://bitcoinist.com/250-million-tether-grant-here-we-go-again/
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#BTC #ETH #BCH #Ethereum #Bitcoin #Cryptolife #cryptocrazies #Ledger #TomLee #DigitalCoin #Digitialcurrency #tron #XRB #XRP #Google #Cryptocurrency #Crypto #like #Ripple #Insta #gram #google #Googleads #CryptoAds #Follow
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#Neo #Stellar #Raiblocks #Cardano #Cryptolife